Form 4: Carpenter Technology Executive Socci Acquires Shares Following Performance Award Vesting

Elizabeth A. Socci, VP, Contr & Ch Acctg Officer at Carpenter Technology Corp, reports acquisition of shares and disposition for tax purposes following the vesting of a performance-based restricted stock unit award.

Summary

• On July 16, 2024, Elizabeth A. Socci, VP, Contr & Ch Acctg Officer of Carpenter Technology Corp, acquired 3,980 shares of common stock due to the vesting of a performance-based restricted stock unit award.
• The award had an effective grant date of August 16, 2021, and a performance period ending June 30, 2024.
• The achievement of performance targets was certified by the Human Capital Management Committee of Carpenter's Board of Directors on July 16, 2024, based on approved financial results.
• Also on July 16, 2024, Socci disposed of 1,140 shares at a price of $122.25 per share to cover tax obligations related to the vesting.
• Following these transactions, Socci beneficially owns 18,105 shares of Carpenter Technology Corp common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects the vesting of a performance-based award, suggesting the achievement of company goals. However, the sale of shares to cover taxes is a standard practice and doesn't necessarily indicate a strong positive or negative outlook.

Positives

• The vesting of the performance-based restricted stock unit award suggests that performance targets were met during the performance period.

Industry Context

Form 4 filings are standard disclosures required by the SEC when company insiders, like officers and directors, trade in their company's stock; this filing indicates transactions by a key executive at Carpenter Technology.

Stakeholder Impact

• The vesting of performance-based awards can positively impact shareholder confidence by aligning executive compensation with company performance.

Key Dates